Home Window Film Federal Tax Credit Extended for 2021
The 2021 tax season will officially still have the federal residential energy efficiency upgrade tax rebate available. This is a tax credit for anyone who meets the following criteria as outlined below, and yes, this includes window film!
The tax form lists out the following stipulations regarding the program:
“You may be able to take a credit equal to the sum of:
1. 10% of the amount paid or incurred for qualified energy efficiency improvements installed during 2020, and
2. Any residential energy property costs paid or incurred in 2020
*A total combined credit limit of $500 for ALL TAX YEARS AFTER 2005”
If you’re looking to get a reimbursement on window film, the specific section you may need to show to your account reads as follows:
“Qualified Energy Efficiency Improvements
Qualified energy efficiency improvements are the following building envelope components installed on or in your main home that you owned during 2020 located in the United States if the original use o the component begins with you, the component can be expected to remain in use at least 5 years, and the component meets certain energy standards.
· Any insulation material or system that is specifically and primarily designed to reduce heat loss or gain of a home when installed in or on such a home.
To read through the entire tax credit for yourself, or to print out the accompanying Form 5695 (2020), click HERE.
To get in touch with a member of the Eastern Solar Glass team for further information on how window film can help increase your home’s energy efficiency, contact us today!